Ballard Power Systems (BLDP) Announces Quarterly Results
Ballard Power Systems (NASDAQ:BLDP) issued its quarterly earnings data on Tuesday. The company reported ($0.03) EPS for the quarter, beating the Thomson Reuters consensus estimate of ($0.04) by $0.01, Analyst RN reports. The company had revenue of $14.00 million for the quarter, compared to the consensus estimate of $15.67 million. The company’s quarterly revenue was up 13.8% on a year-over-year basis.
Several analysts have recently commented on the stock. Analysts at Cowen and Company initiated coverage on shares of Ballard Power Systems in a research note on Monday, April 14th. They set a “market perform” rating and a $3.75 price target on the stock. On a related note, analysts at Lake Street Capital downgraded shares of Ballard Power Systems from a “buy” rating to a “hold” rating in a research note on Tuesday, March 11th. They now have a $4.00 price target on the stock, up previously from $3.60. Finally, analysts at Byron Capital downgraded shares of Ballard Power Systems from a “buy” rating to a “hold” rating in a research note on Thursday, February 27th.
Shares of Ballard Power Systems (NASDAQ:BLDP) opened at 4.09 on Tuesday. Ballard Power Systems has a 1-year low of $0.87 and a 1-year high of $8.38. The stock has a 50-day moving average of $4.48 and a 200-day moving average of $2.6. The company’s market cap is $450.2 million. Ballard Power Systems also was the recipient of a significant increase in short interest during the month of April. As of April 15th, there was short interest totalling 11,357,168 shares, an increase of 42.7% from the March 31st total of 7,961,505 shares. Approximately 10.4% of the company’s stock are sold short. Based on an average daily volume of 7,958,373 shares, the short-interest ratio is currently 1.4 days.
Ballard Power Systems Inc (NASDAQ:BLDP) is engaged in design, development, manufacture, sale and service of fuel cell products for a variety of applications, focusing on motive power (material handling and buses) and stationary power (back-up power and distributed generation).
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